HC Wainwright Initiates Coverage on Evotec (NASDAQ:EVO)

Equities researchers at HC Wainwright began coverage on shares of Evotec (NASDAQ:EVO) in a report issued on Wednesday. The brokerage set a “buy” rating and a $7.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 117.39% from the company’s current price.

A number of other equities research analysts have also recently commented on EVO. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Wall Street Zen upgraded Evotec from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Berenberg Bank initiated coverage on Evotec in a research report on Tuesday, February 3rd. They set a “buy” rating on the stock. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.00.

Evotec Stock Up 0.3%

NASDAQ:EVO opened at $3.22 on Wednesday. Evotec has a 52 week low of $2.31 and a 52 week high of $4.80. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 2.07. The stock’s 50-day moving average price is $2.94 and its 200-day moving average price is $3.29.

Evotec (NASDAQ:EVO) last posted its earnings results on Tuesday, March 31st. The company reported $0.05 EPS for the quarter. Evotec had a negative return on equity of 12.40% and a negative net margin of 13.13%.The firm had revenue of $297.02 million for the quarter. Sell-side analysts predict that Evotec will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd lifted its stake in Evotec by 25.1% in the 4th quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock valued at $57,000 after buying an additional 3,709 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after buying an additional 4,600 shares in the last quarter. Bank of America Corp DE lifted its stake in Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after buying an additional 9,289 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in Evotec in the 2nd quarter valued at about $43,000. Finally, Marshall Wace LLP purchased a new position in Evotec in the 4th quarter valued at about $40,000. 5.81% of the stock is owned by hedge funds and other institutional investors.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.